SWFI First Read, October 3, 2016

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1 year ago

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October 3, 2016

Former Fed Chairman Greenspan to Serve as an Economic Advisor to Advisors Capital Management

Ridgewood, New Jersey-based Advisors Capital Management, LLC has hired former Federal Reserve Chairman Alan Greenspan, to serve as an economic adviser. Greenspan served as Federal Reserve Chairman from 1987 to 2006. Greenspan has also been an advisor to hedge fund Paulson & Co.

OCBC Bank Has a New Head of Corporate Banking

OCBC Bank named Elaine Lam Su Yen to be the bank’s head of global corporate banking. Lam joined the bank 15 years ago, last as Head of Wholesale Corporate Banking at OCBC. She replaces George Lee who is retiring after 16 years at OCBC. Before joining OCBC, she had roles at ABN Amro Bank and UOB Bank.

GIC and CPPIB Eye Marketcity Development in Bengaluru

Singapore’s GIC Private Limited and the Canada Pension Plan Investment Board (CPPIB) have entered in bids to acquire a 50% stake in Marketcity, a mixed-use real estate development in Bengaluru, India. The Marketcity project is valued at around Rs 1,000 crore and is owned by Phoenix Mills. Recently, GIC acquired a 50% stake in a Viviana Mall in Thane, close to Mumbai, for Rs 350 crore.

BOJ’s Tankan Survey Tells No Improvement in Large Manufacturers’ Sentiment

DP World and NIIF Joint Venture Embarks on First Investment

Hindustan Infralog Private Limited, the US$ 3 billion joint venture formed in January 2018 between DP World and the National Investment and Infrastructure Fund (NIIF) to invest in ports, logistics and warehousing, agreed to acquire 90% of Continental Warehousing Corporation (Nhava Seva) Limited for US$ 400 million. 10% is being retained by the company’s founders – the Reddy family. Adi Keshav Reddy is the founder of Continental Warehousing. This is the first investment of the Hindustan Infralog platform.

The sellers include Warburg Pincus India Pvt Ltd, International Finance Corporation (IFC) and Aureos Capital, a joint venture between the CDC and Norfund that was acquired by Abraaj Capital.

Barclays, Citi and Detusche Bank advised on the transaction.

Continental Warehousing was formed in 1997 and is one of India’s biggest container warehousing firms – operating container freight stations and private freight terminals across India. In April 2011, Warburg Pincus invested in Continental Warehousing, committing US$ 100 million. In December 2015, IFC invested US$ 25 million in equity and lent US$ 35 million in debt to Continental Warehousing.

In India, DP World has been operating container port terminals since 1997.

SWFI First Read, March 18, 2018

Surbana Jurong and China Vanke Tie up Deal for Industrial Town Projects

Surbana Jurong, a real estate development company focused on urban projects, inked a deal with China Vanke to partner on new industrial towns in China’s midwest regions. Surbana Jurong is majority-owned by Singapore’s Temasek Holdings. The first joint project is Vanke’s Jianzhou Dream Town in Chengdu. Surbana will provide the design for this project.

PIF Eyes Hollywood Talent

Saudi Arabia’s Public Investment Fund (PIF) is looking at investing around a 7% stake in Endeavor, LLC, a talent agency holding entity of WME for a reported US$ 400 million. Ari Emanuel is the CEO of Endeavor. PIF’s financial advisor for this deal is Michael Klein & Co. Endeavor is being advised by Ares Holdings.

Mubadala Invests in No Fly Zone Drone Radar Company

Data Collective led a US$ 15 million Series A round into Salt Lake City-based Fortem Technologies, Inc., a company that works on solutions that can detect, identify and classify drones in real time to maintain airspace safety. Other investors in the round include Boeing, Mubadala Investment Company, Manifest Growth, New Ground Ventures and Signia Venture Partners.

Ibrahim Ajami, Head of Mubadala Ventures said in the press release, ” Mubadala is excited to work with Fortem and its outstanding leadership team to help grow its business to new markets.”

Ajami added, “We strongly believe the TrueView radar is essential to maintain a safe airspace for both the aircraft and the critical infrastructure on the ground.”